A new 5.0-liter motor stands to move the Mustang further ahead of the pack.

Few automobiles have had the sort of longstanding street cred given to Ford’s Mustang GT. But the deference it has enjoyed for much of its four-plus decades has been called into question recently now that recently introduced muscle-machines from Chevy and Dodge have come along with larger, high-tech V-8s. With its comparatively small 4.6-liter V-8 under the hood, the Mustang has had a lot to overcome. Alas, with its lighter weight and charming handling characteristics, the GT still won our most recent Mustang GT/Camaro SS/Challenger R/T comparo, and by a fairly comfortable margin. Well, come fall of 2010, the Mustang GT stands to put even more distance between it and its rivals with a thoroughly modern mill of its own, the new 5.0-liter “Coyote” V-8.

Fenders Say “5.0” and Mean It

Developed by a relatively small team of engineers working on a shoestring budget, the new 5.0 V-8 is nonetheless quite an achievement. Codenamed “Coyote” during development (Ford says its official name is “5.0-liter Ti-VCT DOHC V-8 Engine.” We prefer Coyote), the new, all-aluminum DOHC engine features four-valves per cylinder and displaces a full 5.0 liters. Contrast that with the old 4.9-liter “Five-Point-Oh” motor that Vanilla Ice crooned about forever ago. Compared with that engine, the new 5.0 is nearly twice as powerful, producing 412 hp at 7000 rpm (compared with 215 for the old 4.9) and 390 lb-ft of torque at 4250 rpm (versus the 4.9’s 285) on premium gas, with 300 lb-ft of that torque available at just 2000 rpm. Regular unleaded is acceptable to use, but expect the power ceiling to drop by 10 ponies and 13 lb-ft should you choose the cheap stuff. As for that power peak at 6500 rpm, well, that’s near the veritable rev stratosphere on Planet Muscle Car.

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Incidentally, the Coyote shares pretty much nothing with the outgoing 4.6-liter V-8 currently providing 315 hp and 325 lb-ft of torque to the 2010 Mustang GT. Only the bore centers are the same; nothing from the 4.6-liter will even fit on the new engine. Bore increases from 90mm to 92.2mm, while stroke increases to 92.7mm. The compression ratio rises to 11.0:1. Cylinder heads are now more compact for better intake manifold flow. The intake manifold is now partially exposed and dressed to impress during that all-important driveway hood pop, thanks to a halo-style engine cover that covers only the wiring and fuel rails. Slick.

Some of the newfound potency (and speed of development) comes about by following some of the same channels that the base Mustang’s gutsy new 3.7-liter V-6 employed on its successful quest to achieve 305 hp. Most significant among them is the fitment of Ti-VCT (Twin Independent Variable Camshaft Timing), which Ford says will be on 80 percent of its products by 2012. It allows for extremely precise overlap of the time that both intake and exhaust valves are open, optimizing efficiency during both high- and low-load operation. As with the V-6, the cooling system has also been reworked both for efficiency and effectiveness. Also important is that the engine was designed for the (possible) future implementation of direct injection and/or turbocharging.

Minor Fuel-Economy Improvement

Curb weight is likely to remain close to that of the current GT, since the weight of the engine only increases by about 10–15 pounds, according to Ford. The GT was already the fuel-economy champ in its class, but fitted with the six-speed automatic it will gain two mpg on the highway to 25, while the 17 mpg figure in the city remains the same as the 2010 model. With the newly fitted MT82 six-speed manual replacing the five-speed from 2010 (that’s right, six forward gears, like the rest of the performance-car universe!), fuel economy remains flat at 16 and 24, which is still an achievement considering the massive power boost.

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As for that way more important performance figure—acceleration—Ford has declined to give us a figure. But we’re betting on a 0-to-60-mph number in the 4.6-to-4.8-second range and a quarter-mile run of under 13 seconds, based on that fact that we’ve consistently been able to hustle the Chevrolet Camaro SS to 60 in 4.9 seconds and through the quarter at 13 flat with all of its extra bulk.

The Rest Gets Better Too

According to Ford, the entire chassis has been retuned—again, following a rather thorough retuning for 2010—including a new electric power-steering system, new anti-roll bars, new wheels and tires, upgraded stock brakes, and a new optional Brembo brake package that brings four-pot calipers and 14-inch rotors.

The 2011 GT also gets a few new convenience items, including a message center in the instrument cluster, convex outer sections in the exterior mirrors, a programmable vehicle key, illuminated visors with storage, and a universal garage-door opener. Convertible models benefit from additional stiffening, too.

Styling of the 2011 Mustang, which goes on sale this spring, hasn’t changed a lot from 2010, although there is a new grille and the car does see a three-percent improvement in aerodynamics thanks to new rear tire spats and better sealing around the radiator and decklid. There are also three new colors for 2011: Yellow Blaze Tri-Coat, Race Red, and Ingot Silver. Clearly, then, the most important exterior changes are those huge, gleaming “5.0” fender badges, and everything that they signify.